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Sheffield Wednesday takeover placed in doubt

eNewsletter
align=justify>Sheffield Wednesday Football Club’s anticipated takeover has suffered a setback after the major financer in the deal has withdrawn their interest.

Kevin Mundie, a senior executive at Certified Oil Rentals, pulled out from the deal with the Npower League One side due to family reasons.

But the club is adamant it will find the investment to avoid administration, with a reported £1m in tax debts owed and a court date on the 17th November to face a winding up order.

Initial hopes where that Mundie would put the £2m upfront to help the Owl’s imminent cash flow problems.  The COR group has confirmed it still wishes to complete a takeover deal for the club as it looks for funds.

The club’s main creditor, the Co-operative Bank, is said to be in talk with other groups in order to find a solution.

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